The key factors for the success of electronic industries mainly relate to the demand for technological production. By providing a comfortable and reliable working environment for employees, electronic companies manage to maintain steady production and successful talent management. Technology producers also globalized the assembly process of goods by establishing production plants in countries with cheaper labor and so have generated more income from sales.
Responding to Demand
Society has demanded technological production for the past several decades. Since the invention of computers, electronic industries have tried to respond to such demand efficiently by providing customers with technology products. A good example is the mobile devices sector -- after the appearance of the first mobile phones, the public has demanded more innovative devices. This led to the invention of color displays and integrated cameras as well as business applications in the mobile devices.
Competition is the moving force of every production because by competing, companies come up with more and more innovative technological products. This is evident in the success of the electronic industries. A report by the leading technology experts IBM, for instance, indicates that through competition between Japanese electronic companies and western corporations, the industry has developed more attractive products and has incorporated more advanced technologies. The competition between, for example, Sony and Microsoft has led to the distribution of two of the most successful game consoles -- PlayStation and Xbox.
The electronic industries offer some of the most attractive employment opportunities in terms of environment and labor. EHS Today Magazine concludes that by providing comfortable social conditions and especially by increasing the pay rates for technology specialists in developed countries, electronic industries have become a sought-after employer for educated individuals. This gives the technology companies the opportunity to manage talent in their organizations and to enjoy progressive work by specialists.
Many American and European technology giants have successfully exported their productions abroad. Such companies have assembly plants in Asia and pay less for production resources and labor costs. Specialists from the Warwick Institute for Employment Research concluded that such companies receive the same level of production quality by their employees and pay less for their labor. Thus industries can save costs and boost revenue rates and production quality. For example, organizations such as Intel and Nokia have their assembly plants in countries like Thailand and China where the labor costs are lower that in the U.S.
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